Starmer's vision quest

[bobzmyunkle]

The hard left always have the magic money tree.

A bit late now (he might still be up, I used to listen to John peel when I was supposedly sleeping) but I think @Stevo 666 will be back soon to explain why MMT is basically flawed and to present an alternative explanation of how the nation can progress in the current economic environment.

 

[briantrumpet]

A bit late now (he might still be up, I used to listen to John peel when I was supposedly sleeping) but I think @Stevo 666 will be back soon to explain why MMT is basically flawed and to present an alternative explanation of how the nation can progress in the current economic environment.

Laffer curve, obvs. No other explanation necessary.

 

[briantrumpet]

Hang on, it might be something about some blokes down the pub. Maybe one of them is called Laffer.

 

[CXRAndy]

Labour have always splurge your money on social projects. Run up debt, and destroy business confidence. Allowing labour to have the keys to print money, would be stupid. Even the seaky fookers must recognise this

 

[Stevo 666]

Laffer curve, obvs. No other explanation necessary.

Seems like you have a bit of an obsession with it Brian.

 

[Stevo 666]

A bit late now (he might still be up, I used to listen to John peel when I was supposedly sleeping) but I think @Stevo 666 will be back soon to explain why MMT is basically flawed and to present an alternative explanation of how the nation can progress in the current economic environment.

Not needed, if the magic money tree actually exists...

 

[Shortfall]

A bit late now (he might still be up, I used to listen to John peel when I was supposedly sleeping) but I think @Stevo 666 will be back soon to explain why MMT is basically flawed and to present an alternative explanation of how the nation can progress in the current economic environment.

There are many reasons why we went from a national debt 1997 of £350 billion (45% of GDP) to close to £3 trillion in 2026 (100% of GDP). People can point to Brexit or Covid and our botched response to both are part of it, but the main reason is that we have been living beyond our means for decades. We are now a country in serious decline and the only way I can see out of it is to control spending and start cutting our cloth accordingly. This doesn't necessarily mean "austerity" but it does mean serious reform of big government departments like defence and the NHS and their procurement. It might mean scrapping Trident in favour of a more affordable alternative, it might mean changing the funding model of the NHS (by which I don't mean copying America) it might mean looking at why we have nearly 10 million economically inactive people of working age and how we can get more of them working. it might mean scrapping net zero. But If we don't get a grip of it soon then we might find ourselves in a doom loop that leads to a sovereign debt crisis and if investors stop wanting to buy our debt then austerity like we haven't seen since the war could be forced upon us . If Modern Monetary Theory is an easier way out of it then I'm all for it. If it works.of course. I'm all ears if other people have their own workable solutions. Spare us slogans like "tax the rich" though it you don't mind.

 

[bobzmyunkle]

Sorry, I was just taking a shot at vacuous Stevo rather than expecting an analysis from anyone else. Magic Monet Tree, Magic Money Tree....

If Modern Monetary Theory is an easier way out of it then I'm all for it.

My understanding is MMT is descriptive rather than prescriptive, so it isn't going to provide the answer but might inform it.

if investors stop wanting to buy our debt then austerity like we haven't seen since the war could be forced upon us

Which doesn't quite align with MMT
https://gimms.org.uk/fact-sheets/gilts-and-bonds/

Anyhow, I'm obviously not an economist.

 

[Stevo 666]

Sorry, I was just taking a shot at vacuous Stevo rather than expecting an analysis from anyone else. Magic Monet Tree, Magic Money Tree....

My understanding is MMT is descriptive rather than prescriptive, so it isn't going to provide the answer but might inform it.

Which doesn't quite align with MMT
https://gimms.org.uk/fact-sheets/gilts-and-bonds/

Anyhow, I'm obviously not an economist.

Clearly not 😉

 

[Stevo 666]

Spare us slogans like "tax the rich" though it you don't mind.

Still an optimist then, SF...

You're right, there is some cloth cutting to be done. Hopefully it will be sooner rather than later.

 

[bobzmyunkle]

Anyhow, getting back to Burnham - Manchesterism
https://www.theguardian.com/commentisfree/2026/jan/22/manchester-politics-economy-country-city-uk
Which may or may not be predicated on building lots of huge glass tower blocks.

Meanwhile

looking at why we have nearly 10 million economically inactive people of working age and how we can get more of them working

Has god knows how many years of trickle down economics and austerity created a feckless underclass?
https://www.theguardian.com/educati...-school-without-being-toilet-trained-teachers

 

[CXRAndy]

Anyone serving in the UK miltary-resign now if you are about to be deployed anywhere.


View: https://x.com/i/status/2014048450942284233

 

[briantrumpet]

Terrible news for some.

 

[CXRAndy]

The other metrics

How did the UK economy do in 2025 compared to the OBR's pre-election March 2024 forecasts?

Growth
🔵 Forecast 1.9%
🔴 Now 1.4% 👎

Inflation
🔵 Forecast 1.5%
🔴 Now 3.4% 👎

Unemployment
🔵 Forecast 4.4%
🔴 Now 5.1% 👎

Deficit (2025-26)
🔵 Forecast £78bn
🔴 Already £140bn 👎

 

[TailWindHome]

Anyone serving in the UK miltary-resign now if you are about to be deployed anywhere.


View: https://x.com/i/status/2014048450942284233

They're full of shite